Because there is a finite supply of a nonrenewable resource,:
a. it has inadequate substitutes.
b. any use of that resource today will leave less available for tomorrow.
c. such resources are replenished faster than they are consumed.
d. the government subsidizes the extraction of such resources.
e. any use of that resource today means the value of the resource will fall in the future.
b
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Suppose all producers in a given industry charge exactly the same price for their product. Uniform prices across an industry proves
A) industry competetitiveness. B) industry monopolization. C) producers cannot be earning monopoly profits. D) absolutely nothing about whether the industry is adequately competitive.
The official poverty level in the United States
a. has been the same since 1980 b. is the same as in other developed countries because it is based on a United Nations definition c. is defined by the United Nations d. is defined by the Department of Agriculture and based on food costs e. has been adjusted for inflation but not for changes in family size